Practice Problem Set 01 – Reviewing Excel Basics

Please refer to Practice Problem Set 01.xlsx for all related data.

1. Alice’s Grades
Alice wants to calculate her final grade in SSM. The course had seven assignments.
The first four assignments were each worth 10% and the last three were each worth
20% of the assignment grade. In total, assignments were worth 40% of the final
grade, the mid-term exam was worth 25% and the end-term exam was worth 35%.
Alice earned the grades 78%, 82%, 84%, and 72% on the first four assignments, and
she earned 86%, 83%, and 77% on the last three. Alice earned a grade of 82% in the
mid-term exam and 80% in the end-term exam. Calculate Alice’s grade for the
assignment component of the course. Calculate Alice’s grade for the overall course.

2. XYZ Co.
XYZ drug company is producing a new drug. The company has made the following
assumptions:
• During Year 1, 100,000 units will be sold.
• Sales will grow for three years and then decline for seven years.
• During the growth period, sales will grow at a rate of 15 percent per year.
During the decline, sales will drop at a rate of 10 percent per year.
Develop a worksheet that takes values for Year 1 sales, the length of the growth
cycle, the length of the decline cycle, the growth rate during the growth cycle, and
the rate of decrease during the decline cycle, and then computes unit sales for Years
1–11.

3. Math Test
The scores obtained by students in a Math test are given in the worksheet titled
“Math Test”. Using Nested IF, determine the grade that should be assigned to each
of them. The grading criteria has been provided.

4. My Orders
If I order up to 500 units of a product, I pay $3 per unit. If I order from 501 through
1200 units, I pay $2.70 per unit. If I order from 1201 through 2000 units, I pay $2.30
per unit. If I order more than 2000 units, I pay $2 per unit. Using the Excel IF
statement, write the formula to compute the purchase cost as a function of the
number of units purchased. What will be the purchase cost for the following units
ordered: 1450 units, 230 units, 580 units, 800 units, 900 units and 2300 units?
5. Car Insurance
Rebecca’s car insurance has a $500 deductible. If the total damage is less than $500,
she personally pays the entire bill; otherwise, the insurance company pays the
amount greater than $500. Write an IF function that will calculate the amount
Rebecca owes for a given damage amount.

6. Fitness Challenge
A middle-school fitness challenge allows students to earn one of three award levels
for each fitness challenge: Gold, Silver or Bronze. For the long jump activity,
students are awarded Gold if they jump farther than 5m, they are awarded Silver if
the jump at least 4.25m but less than 5m, and they are awarded Bronze if they jump
at least 3.5m but less than 4.25m. For the given list of students, how can one assign
their award level for long jump?
Student Name Distance
Alice 5.62m
Bob 4.72m
Philips 5.66m
Tara 3.54m
Lilly 2.76m
Ron 3.81m

7. Drug Company
You work for a drug company that produces six different products at its plant. For
each product, you need labor and raw material. Row 2 in Table 1 shows the hours of
labor needed to produce a pound of each product, and row 3 shows the pounds of
raw material needed to produce a pound of each product. For example, producing a
pound of Product 1 requires 6 hours of labor and 3.2 pounds of raw material. For
each drug, the price per pound is given in row 4 and the unit cost per pound is given
in row 5. For example, Product 2 sells for $11.00 per pound and incurs a unit cost of
$5.70 per pound. The number of pounds of each product that the company sells is
given in the last row. Using Excel formulae:
• Compute the profit.
• Compute the total labour usage.
• Compute the total raw material usage.
Product 1 2 3 4 5 6
No.
 Labour 6 5 4 3 2.5 1.5
(hours)
Raw 3.2 2.6 1.5 0.8 0.7 0.3
Material
(pounds)
Unit price $12.50 $11 $9 $7 $6 $3
Unit cost $6.50 $5.70 $3.60 $2.80 $2.20 $1.20
Amount 960 928 1041 977 1084 1055
sold

8. Rita’s Furniture Shop

In a month, Rita sells five bedroom sets, three dining room sets, four china cabinets
and eight patio sets. Rita sells bedroom sets for $4,500, dining room sets for $3,500,
china cabinets for $4000 and patio sets for $1,500. She purchases bedroom sets for
$2,500, dining room sets for $2,000, china cabinets for $2,000 and patio sets for
$750. Her business has monthly fixed costs of Operations and Salaries totaling
$20,000 and advertising costs of $3,000. Using Excel formulae calculate her profit
in a month.
9. Shoeshop
Shoeshop manufactures three types of shoes. A pair of shoes yields the following
profit and uses the number of minutes of machine time and labor given in the table
below. The number of pairs of each type of shoe sold in a week is also given.
Determine Shoeshop’s weekly profit, labour usage and machine time usage.
Shoe 1 Shoe 2 Shoe 3
Profit/pair $40 $25 $30
Minutes labor used 40 20 30
/pair
Minutes machine 45 25 26
time used /pair
Pairs sold/week 1000 1200 900

10. ABC Ltd

ABC Ltd. has six customers with constant order quantities for the past five years.
Andy orders 30 cases, Boris orders 25, Claudia orders 19, David orders 32,
Emanuelle orders 29 and Farah orders 37. The first two years, prices per case was
$40, but it increased over the next three years to $43, $45 and $48. Find the total
revenue per year for each of the past five years.